A bill recently introduced in Congress seeks to cap the number of delinquent loans the Department of Veteran Affairs can purchase through the VA Servicing Purchase program annually at 250. Mortgage industry participants strongly oppose the bill.
The Mortgage Bankers Association defended servicers from criticism for the financial incentives they receive from FHA home-retention programs, arguing that the work involved outweighed the compensation.
The chief innovation officer at United Wholesale Mortgage testified at a hearing in Congress this week on housing affordability. Senators at the hearing largely focused on issues outside of the mortgage market.
A Fannie Mae index that measures housing sentiment declined on an annual basis in February, marking the first annual decline in housing sentiment since 2023.
Nominations for leaders at CFPB, FHFA waiting for full Senate vote; loanDepot CEO Frank Martell to step down; newer digital lender receives investment from Progressive Insurance.
The market share for non-agency jumbos held steady in 2024 while agency high-balance business surged. Some $53.83 billion of mortgages with balances above the baseline conforming loan limit flowed through the agencies in 2024. (Includes three data tables.)
During a confirmation hearing last week, Trump’s nominee to head FHFA was noncommittal in response to questions about GSE reform, a hint that the administration has other priorities.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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